Week 2 The principles of CSR. Our environmental performance throughout this year is described in detail in this Environmental Review. The following are.

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Presentation on theme: "Week 2 The principles of CSR. Our environmental performance throughout this year is described in detail in this Environmental Review. The following are."— Presentation transcript:

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Our environmental performance throughout this year is described in detail in this Environmental Review. The following are key achievements of which we are particularly proud. Best ever compliance with drinking water quality standards at 98.9% Avoided a hosepipe ban and maintained drinking water supplies to customers despite extreme summer drought and harsh winter Certificate of Endorsement for contribution to improvements in the quality of the River Thames Significant improvement in sewage effluent consent compliance, rising to 98.5% Best ever compliance with sewage biosolids recycling to agricultural land 100% compliance with sewage biosolids dispersal at sea Won eight environmental awards Achieved and exceeded policy target to improve energy efficiency by 10% by 1996, against projected levels from 1992 baseline Thames Water Environmental Review 1996

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There is no reason to think that shareholders are willing to tolerate an amount of corporate non-profit activity which appreciably reduces either dividends or the market performance of the stock. Hetherington (1973)

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The principles of CSR Accountability Sustainability Transparency Disclosure The Social Contract

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Some questions 1. What is socially responsible behaviour? 2. How can we define CSR? 3. Can CSR be applied to non profit- seeking organisations? 4. Is CSR in opposition to financial success?

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Accountability Concerned with an organisation recognising that its actions affect the external environment Implies the assuming of responsibility for the effects of those actions Implies a reporting of to all parties affected Implies a reporting to external stakeholders Implies a recognition that the organisation is part of a wider societal network

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Characteristics of accountability Understandability to all parties concerned Relevance to the users of the information provided Reliability in terms of accuracy of measurement, representation of impact and freedom from bias Comparability, which implies consistency, both over time and between different organisations

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Transparency The reporting of the external impact of the actions of the organisation can be ascertained from that organisations reporting Pertinent facts are not disguised within that reporting Of particular importance to external users of such information

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Some more questions 1. How to we decide if any action is socially responsible? 2. How do we measure CSR? 3. Do we need to regulate corporations to ensure CSR? 4. Can we devise a framework for CSR?